Mark Friedman of Fulcrum Property Group told KCRA 3 the group has an option to purchase the Downtown Plaza, the site of a planned entertainment and sports arena.

"We will undoubtedly do so," Friedman said.

JMA Ventures of San Francisco purchased the mall last year from the Westfield Group.

Friedman said JMA will continue to play a role in developing the properties surrounding the arena.

"The idea is to create a revitalized shopping center that is anchored by Macy's," Friedman said.

Friedman said the Ranadive group's option to purchase the mall site extends to October 2014.

Meanwhile, the NBA said Tuesday that the league's Advisory Finance Committee will issue a recommendation this week on the agreement reached between the Ranadive group and the Maloof family to purchase the Kings.

An NBA spokesman said the league's Board of Governors, made up of all 30 team owners, will vote on the transfer by the end of the month.